I had to double-check this one because the number looks ridiculous.
A house in Forney, Texas sold for about $388,000 in 2022.
Now it’s listed as a HUD foreclosure for about $216,000.
That’s a drop of roughly $172,000.
Or about 45%.
For a house that was built just a few years ago.
The listing history makes it even more interesting.
The price reportedly fell from around $318,000 to $216,000 after multiple reductions.
At first glance, you look at that and think:
“Wait… is the Texas housing market collapsing?”
Not so fast.
This is a distressed HUD foreclosure being sold as-is.
That matters.
Foreclosures often trade at discounts because buyers take on more risk, potential repairs, and a more complicated purchase process.
So this isn’t necessarily the market value of every house in the neighborhood.
But here’s why people are paying attention anyway.
Even though this is an extreme example, the broader housing market in parts of Texas is softening.
Forney area home prices are reportedly down around 5% to 8% from a year ago, and price cuts have become much more common.
The house itself may be an outlier.
The question is whether it’s an outlier that starts showing up more often.
Because a 45% loss gets attention.
But what really matters is whether more distressed listings start appearing behind it.
That’s usually when people stop talking about one house…
and start talking about the market.